Real Estate: Buying Sellers Furniture? Common? |
- Buying Sellers Furniture? Common?
- Thanks for the tip RE: lender calling the seller's agent
- Neighbor has an illegal easement on my property
- Potential home buyer with offer accepted by seller but agent won't show letter or contact
- Share your positive buying experiences!
- [AL] Builder wants to mutually release us from our contract because of "uncertainty on when they will have approval from the city to build" aka "We are losing a ton of money on your build. Will you pretty please forget this ever happened."
- Seller agent refuse to co-broke, options?
- Deposit to tour apartment
- Where is the market more "sane"?
- New build base price decreased?
- [California] Exterior Paint Advice for Selling a Mid-Century Modern Home?
- To pay or Not to pay?
- Builder cancelling contract, legal recourse for buyer?
- Seller Still Has Not Signed the Contract for a Co-op (NJ)
- Appraisal 116k < sale price, seriously need help :(
- Stigma- Old haunted town hospital house??
- Seller wants to rent back
- Home insurance
- Agent Help
- PSA: In this market, if your lender isn't calling the listing agent of every offer you are submitting and talking up your pre-approval then fire them and find a new lender
- Are they have Chinese realtor in Montana?
- Realtor fatigue
- Ethical or not Ethical?
- House sold
- I'm a buyer under contract on a home and I'm wondering if I should contact the sellers agent or switch my agent
Buying Sellers Furniture? Common? Posted: 21 May 2021 05:48 AM PDT The property I am closing on in a week was an estate sale. The previous owner passed away and her daughter was selling the house. I was just having small talk with my dad about some layout options and he mentioned if I should ask them if the Seller want to sell me their patio furniture. My realtor knows the owner so he asked. The owner comes back with an offer that we could NOT refuse. He is willing to sell all the furniture in the house for $4000. These are really nice couches, kitchen table, office desk, patio furniture, 4K TV, pool table, rideable lawn mower. Apparently the thought of unpacking everything from their family member who passed away was causing them anxiety and made them heartbroken. Which I understand. Should I offer them more money? I could do an assessment and see how much these things are actually worth? I would feel bad because of their situation. [link] [comments] |
Thanks for the tip RE: lender calling the seller's agent Posted: 21 May 2021 08:15 AM PDT Portland Metro area and most everything under $450K gets multiple offers and goes so fast. After striking out these past 4 months on multiple homes, finally had one accepted yesterday and I do think the tip of having the lender call the selling agent helped. Loan will be through our credit union so he was very accessible and didn't mind doing this when our agent asked him. No offers as of Wednesday, so offered asking price. Of course it couldn't be that easy, there were a couple of last minute offers yesterday but the agent came back and asked if we wanted to go up a bit. So we did and it was accepted. Best part is we didn't have to waive the inspection or cover a low appraisal. Not looking forward to the next 40 days, but hopefully after that, good bye tiny studio apartment, hello house with room to spread out and a yard! Good luck out there everybody!!! [link] [comments] |
Neighbor has an illegal easement on my property Posted: 20 May 2021 12:24 PM PDT I recently bought an investment property and decided to do a site survey. The neighbor behind me has a driveway going to their back yard. It not so subtly looks like it used to be the driveway to my property. The property I bought has been vacant since 2012. Come to find out it is indeed my property he used to convert into his own driveway, and there is no record of this easement anywhere with the county records. What is my recourse, if any, in this situation? Any help would be greatly appreciated EDIT* Thank you for the comment everyone it's very appreciated. I've made an appoint with a real estate attorney and will find out all of my options. Again, thanks everyone for the help. [link] [comments] |
Potential home buyer with offer accepted by seller but agent won't show letter or contact Posted: 21 May 2021 07:55 AM PDT Hi all, My wife and i are purchasing our first home and we submitted an offer for 550k 20% down payment and the seller accepted. My agent won't send me the acceptance letter nor the contract from the sellers lawyer. I hope my counsel will provide them to me but I'm worried if this could be a red flag. Should I be worried? [link] [comments] |
Share your positive buying experiences! Posted: 21 May 2021 05:05 AM PDT There have been a million threads in here where people share their experiences of how crazy the market is. Reading this subreddit, you'd think everyone is putting in 50 offers and having them all lose to sight-unseen cash buyers paying 20% over asking and waiving all contingencies. But just like with online reviews, people are more likely to share extremely negative experiences than positive experiences, which distorts people's perception of the market. I'm not saying the market isn't totally insane right now, but people's perception of just how crazy it is might be exaggerated by forums like this. So to counter this, let's hear your positive experiences! I'll start: the condo we bought went on the market on a Wednesday. For whatever reason, showings were by appointment only: there were no open houses (COVID paranoia?) We saw the place the following Sunday, and were told that offers were due by Tuesday (seller wanted a sale within a week). Presumably due to the lack of open houses and the seller's extremely tight timeline, we were the only offer, and thus paid exactly the asking price, and waived zero contingencies. We are in urban Boston, which is not quite as hot as some parts of the country right now but still a very tight market. So while we got extremely lucky, we can't be the only buyers capitalizing on sellers royally screwing up and blowing it in the biggest sellers' market in history, which is probably one of the only ways to have a positive experience as a buyer right now. Would love to hear others' stories! [link] [comments] |
Posted: 21 May 2021 08:10 AM PDT Hello all, My partner and I signed a contract for a new construction house in our area at the end of January. This house was to be built in the "phase 2" area of an existing development. When we signed the contract we were told that the land was not ready yet (not approved by the city to build on it yet, no addresses, still a dirt lot, etc), but they were confident it would be ready in ~2-3 months. Between the end of January and this past Monday, we've been patiently waiting to see progress, but nothing has been happening. On Monday we receive an email from the selling agent that we have been working with that stated they were now uncertain when the land would be ready AND combined with the uncertainty of materials and labor throughout the country right now they are going to nullify the contracts. They gave use two options, both essentially were to mutually release the contracts and receive our earnest money back. The second option also allowed for our spot in line to be saved in good faith and for us to be able to resign with them at the new fair-market price once the land had been approved. After meeting with the selling agent in person and further discussing our options, we discovered that legally (at least this seems to be the case) they do not have a way to nullify or release us from our contract without our permission. When they said they were going to nullify the contract, what they really meant was "Would you please be so kind to sign this mutual release agreement, k thx." When asked what they would do if we refused to agree to their terms, they stated that since technically the contract does not state a start or end date for the construction of the house, they could drag their feet and delay beginning construction until they were "comfortable doing so" aka "when they will be able to make a profit." I called BS since I felt that with that argument they could delay the build indefinitely (years) for any reason they wanted, not just money or material/labor reasons, and surely that would not hold up from a legal perspective. Plus, I'm not sure they ever will be able to make money on our house at this point because of how expensive things are now and with how good of a "deal" we got all things considered. Isn't there some sort of reasonable expectation of a start and/or end date when it comes to new construction? Is "we are losing money so we don't want to build this house" a valid legal claim to delay construction? This is a huge builder so it's not like this one loss would bankrupt them. Some more context: Since signing the contract in January, the total cost of our house, according to the agent, has increased by nearly $100k due to material and labor shortages, as well as the increasing housing market boom. So we have no doubt that they are losing money on our house. The whole land uncertainty issue they are claiming is, in our opinion, a convenient excuse to try and get out of the contract in order to save face. We get this and understand it from a business perspective, however we also believe it is their responsibility to understand those risks when allowing people to sign contracts. It's not like they didn't know how crazy the material and labor situation was at the beginning of the year. At the end of the day, if it's between the multi-million dollar builder getting screwed or us, the little guy, we're going to choose the builder. We have a meeting with a real estate lawyer on Monday to discuss our options and path forward. We would really like to hold our ground and force them to build the house at the price on the contract we signed and do so "within a reasonable time frame." That last bit is where I think it may get into a legal grey area. What is a reasonable time frame and how do you even enforce a start or end date when it isn't in the contract. If they physically don't have the materials or labor or the land approved yet, then you can't really do anything about that. Or what if they do have the materials, but they claim they don't or they prioritize other houses where they aren't losing money. However, we also don't want to be waiting for months or years even for things to get going. What do you all think? Do you think we have a shot at standing our ground and getting this thing built soon? [link] [comments] |
Seller agent refuse to co-broke, options? Posted: 21 May 2021 08:09 AM PDT We saw a house that we really like, and our agent contacted the seller's agent and she got back to us saying that she doesn't co-broke. (Not splitting the commission). This house is a really good deal and already 1 offer sight unseen and the house has only been on the market for 2 days. What are our options in this case? To just have the seller agent represent us as well? [link] [comments] |
Posted: 21 May 2021 07:34 AM PDT Hi! I've been looking at apartments online and tried to set up a tour to visit one. The owner requested we fill out an application before visiting (fine) even though we've already validated combined annual income > 100x monthly rent. The owner has also asked that we pay the first months rent and security deposit before seeing the unit. If we don't like it they've assured us of a refund, but this seems sketchy to fork over $4k to even take a look. Has anyone heard of this before? [link] [comments] |
Where is the market more "sane"? Posted: 21 May 2021 03:57 AM PDT I live in Colorado Springs, which apparently has the "hottest zip code in the US" (80911). I'm currently renting and my lease is up at the end of September. The owners are going to sell, which means I need to figure out something before then. I made some credit mistakes in the past, so it took time to repair enough to be viable for approval, and now that I am, things seem impossible. Same stuff as everyone else is talking about: 50K over asking, massive appraisal gaps, and just generally being priced out of the market. For a variety of reasons, I think I'm going to move my family back to the east coast. I'm just not sure where. I have family in Charleston, Mid North Carolina, and I'm from Virginia Beach originally. I'm open to somewhere from VA down to FL, preferably not to far inland (less than an hour from the beach). I still want to be in something resembling a decent sized city, as that will help me find the higher paced nursing jobs that I'm used too, but I haven't settled on anything. So really the question is, where on the mid to southern east coast is the housing market a little more bearable that I might find a home without competing with 40 offers? [link] [comments] |
New build base price decreased? Posted: 21 May 2021 04:21 AM PDT We sold our home and after an exhausting journey of loosing multiple bids, we are going to rent because it gives us the option to build. It seems safer since we don't have to wave inspections or appraisal. The models I've been looking at yesterday morning were priced at high-200s. I went back on the site last night to double check something and all the sudden all the models are listed mid-200s. Still the same the morning. Any reason this would happen?? I have a meeting with them at 11 today, just thought it was strange the prices would drop that much. [link] [comments] |
[California] Exterior Paint Advice for Selling a Mid-Century Modern Home? Posted: 21 May 2021 09:00 AM PDT My parents passed a while ago and I'm selling their southern California mid-century modern home. It desperately needs some fresh paint. I'm way, way out of my depth with this and would greatly appreciate some help. The realtor wants to paint the house a light-to-mid gray with white trim and an orange door.
Here's a gallery of the house. Here's a bad, hasty photoshop I did of the house with a gray exterior and white trim. [link] [comments] |
Posted: 20 May 2021 06:01 PM PDT It was time for the shower install. So my contractor gets his "tile man" to come do the showers. Up stairs and down stairs. He worked very slow. About 1 row of tile a day. 3-4 pieces of tile, then he would leave. This went on for 2 weeks. With daily guarantees he would be done "tomorrow ". Then he stopped. He had to do the humps in the shower and a few rows of tile on the floor. For 10 weeks we would call, he was " on his way" , " be there in 10 min" never showed. So at the 3 month mark, we finally convinced another tile person to finish. Now the old guy wants to get paid. I said no. What is the right thing to do? [link] [comments] |
Builder cancelling contract, legal recourse for buyer? Posted: 21 May 2021 08:41 AM PDT Back in February my buyer went under contract with a home developer that is building a one Street subdivision with 28-30 other homes. The price was a steal but it's mostly because there are no comparable homes in the surrounding area (there are a couple of mobile home communities all around this street.) The homes were to be completed in September. They just notified us today that their title company discovered an existing recorded access easement that runs through the subject property and grants access through the subject property to the adjacent property owner to the southeast of the subject property. They've stated that this easement prevents them from developing the land as envisioned and they want us to submit a cancellation form. The Realtor representing the builder said they're going to redesign the development and still plan to build and they will contact all the buyers that already signed a contract and give them an opportunity to purchase. I asked if they would be the same price and he didn't know. The market has gone crazy since these homes were listed for sale. They could more than likely go for $40-50,000 more if they listed today. Maybe I'm biased knowing this but it feels like a win-win for the builder. Shouldn't the land have already been surveyed before they tried to sell lots? Is there any legal recourse for my buyer to purchase at the original agreed upon price? [link] [comments] |
Seller Still Has Not Signed the Contract for a Co-op (NJ) Posted: 21 May 2021 08:41 AM PDT A month and a half ago our neighbors approached us to see if we would be interested in purchasing their co-op unit before they put the co-op on the market. We told them we were definitely interested and we agreed to send them a contract by May 5 after we got an attorney. The sellers have requested several changes over the last few weeks to the contract that we were glad to accommodate (shorter closing period, they would rent the unit from us for 30 days after the closing, etc.) We signed the new contract Sunday and sent it to sellers attorney for them to sign. It is now Friday and our attorney still has not received a signed contract from the sellers attorney. I asked out attorney what we should do if we do not receive a signed contract from the sellers soon. Our attorney informed us that there is nothing we can do. Does it normally take this long to negotiate and sign a contract with a seller? Our friends who have previously purchased homes told us they were under contract in 3 days after their offer was accepted. Are we really stuck in a weird limbo period while we wait for the sellers to sign the contract? Is there anything we can do to push the process along? [link] [comments] |
Appraisal 116k < sale price, seriously need help :( Posted: 21 May 2021 07:54 AM PDT Hello all, Firstly thank you for reading all this. My husband and I are in truly an awful situation and we don't really know where else to go with this to find help. Any advice would be greatly appreciated. We purchased a house two weeks ago for 1.41m in the Bay Area (CA), in an almost bidding war kind of situation. This is quite high but hey it is a crazy market. The appraisal turned out to be 116k less than this sale price, and there are absolutely NO comps to support a purchase price of 1.41m. We are first time homebuyers and we made MANY mistakes along the way. We chose a realtor from Redfin who we didn't even know and as it turns out did not have our interests in mind at all. Looks like she just wanted to win this bid. She kept convincing us overpaying is a normal thing right now and we trusted her, which was our mistake. She convinced us it's very rare for appraisals to come back low and throughout the whole offer process she kept getting intel from the seller agent asking us to increase our bid. She also waived ALL contingencies and basically had NO legal protection for us from this whatsoever. We weren't clearly told what all the contingencies entailed and what the chances of such a huge difference of appraisal. She also asked us to pay 40k in EMD, or 3%, which I now realize is very high and could have been lower. She mostly did all this to ensure we could win, and surprise surprise our offer got accepted. Without understanding the dire financial situation we could be in. A lot of this is just our inexperience and fault. But what do we do at this point? I feel so depressed right now to be paying 116k over what something is worth. At the same time I'm risking losing 40k if I back out. We reached out to the seller agent to ask if he can provide any comps to support this and he refused to help, telling us it's pretty much our problem. At the same time our buyer agent keeps pushing us to pay the 116k (which idk if we can) in order to not lose the opportunity. I'm just really depressed at this point. I feel completely taken advantage of. We have always worked so hard to be financially ok and I am devastated that I'm being forced to decide between these options. Please any guidance would really really help 🙏 [link] [comments] |
Stigma- Old haunted town hospital house?? Posted: 20 May 2021 05:57 PM PDT We just bought a large stone house that was a hospital 1901-1940's And its right down the block from the cemetery. Bloody surgeries and the basement was used for "cold storage" if you know what I mean. It was a foreclosure and totally gutted. Nothing historical left, except the stone exterior, stained glass windows and one door knob. :( I want to keep it for our family, but husband wants to renovate and flip it. I think he might be creeped out. lol. I'm not superstitious and it's my dream home/yard/small town. But, I should mention that we rehab properties as our full-time gig, but have never done anything older than 30 years and no death on properties. New territory. I'm wondering if people have an issue buying a home where 100's of people have died? [link] [comments] |
Posted: 20 May 2021 06:50 PM PDT I bought a house that and older woman was living in by herself. The original closing date was June 11th but she asked to push it back to the 17th. So, I agreed. Now, it's May 20th and she is wanting to do a rent back until July 15th and she'd pay me $650. But I already bought furniture and people took off of work and cleared their schedules to help me move. Plus, my parents have scheduled for my room to be redone the first week of July since I was supposed to be out. I explained all of this to my realtor and he said he'd see if she's okay with it. My thing is, we both already signed a contract stating she was not staying any number of days after closing. So, I'm unsure of why he has to okay it with her, especially after he told me I couldn't request any changes to the contract. I feel like my realtor doesn't have my back at all in this closing process. [link] [comments] |
Posted: 20 May 2021 11:15 PM PDT TLDR: We are hoping to close on a house in late June and in the process of shopping for home insurance. With so many options out there, how do I choose? Not sure if this is the right place for this so apologies in advance if it's not. We are hoping to close on a house in late June and in the process of shopping for home insurance. With so many options out there, how do I choose? Is there anything insurance agents sell you on that you don't need or something you might need that they may leave out? I'm nervous as this is my first home purchase that sales people will always be sales people. I have Allstate car insurance and have been pretty happy with them so far. Despite the reputation of insurance companies, I felt like they treat their customers well. Anyway, I'm willing to switch auto companies to save money overall if I have to. Any recommendations on the best way to do this or recommendations on companies? Fyi that the home we purchased is about 22 years old and there are some things that are on the verge of needing replacement. In particular, the roof. But also some stucco too. Inspection found to major issues but did note these things that will likely need repair in five years, prob less. We are located in the northeast/Mid-atlantic USA. [link] [comments] |
Posted: 21 May 2021 06:16 AM PDT Looking from some advice from existing or former RE agents on this sub. Out agent has been wonderful to us since we started working with her several months ago. We will be FTHB and she has had the patience to help educate us and make offers even where she knew we wouldn't win, but needed to go through it to become better buyers. She has also talked us out of making offers on properties that were alluring to us but ultimately didn't make sense. Overall, she's been everything a great agent can be! However, her father (who lived with her and her family) fell sick last month and just passed away earlier this week. Naturally, we haven't heard from her much and have totally understood. She helped connect us to see a few places while he was in the hospital but we haven't made any offers, so nbd. There is now a property on the market that we really want to see. The open house is Sunday, but a lot of things will sell before open in our area. The listing agent is someone we have met several times. I also know she knows our agent personally and is aware of her father's illness and passing. Is it reasonable to reach out to the listing agent directly to set up a showing, and copy our agent to make it clear she is still our agent of record? I don't want to mess anything up, and we aren't ready to stop working with our current agent after everything she's done for us. Wwyd? Tldr: agents father passed away, we want to schedule a showing for a new property and aren't sure how to proceed. [link] [comments] |
Posted: 21 May 2021 09:47 AM PDT |
Are they have Chinese realtor in Montana? Posted: 21 May 2021 09:46 AM PDT Hi there~ I wanna buy a property in Montana, I want to find a Chinese realtor who is speaking Chinese well. [link] [comments] |
Posted: 21 May 2021 09:41 AM PDT So I'm in a hot market (DFW) and my price range is long sought after. I've put in about 5 bids no luck so far. I feel like my realtor doesn't want to work with me anymore. I told her 2 weeks ago that if she didn't want to work with me I understood but she ensured me that she do but wanted to continue to let me know how tough the market is. I understand that but I also don't want to give up. Lately she hasn't been as responsive. I'm going to 2 open houses by myself tomorrow but one house I can't get in without a realtor. She hasn't responded. Should I ditch? [link] [comments] |
Posted: 21 May 2021 09:38 AM PDT Can a realtor list a property on the MLS as a 3/2, but the city tax office has it as a 2/2? [link] [comments] |
Posted: 21 May 2021 05:51 AM PDT I signed the papers and the house is considered sold but my lawyer told me I won't get paid till about a week after they take possession. Is this normal? Why wouldn't I recieve the money on the possession date? Edit: I'm canadian, not sure if that makes a difference. [link] [comments] |
Posted: 21 May 2021 09:23 AM PDT I'm a first time home buyer and I live in southern New Mexico and have been under contact on a home for just about 3 months now. There's been a ton of problems and it's been a very involved process, in part due the stringent requirements of the NM MFA mortgage programs. BUT, lack of communication has also been a huge issue. Right now, AFAIK the underwriter has given their approval, pending repairs. Repairs which I would have asked to be done months ago if anyone would have told me the instead of a week ago that this type of loan requires all repairs done for approval. Now the big issue here is when I contact my realtor she rarely responds and if she does, it's not timely. She'll tell me something will happen and then not do it, not do all of it, or not do it for days and not tell me why or what's going on. She told me on Monday she'd look into the repairs with the sellers agent and get back to me soon. Well, it's Friday now and this is typical for her. I've tried calling and haven't gotten through to her once this week. And between her lack of communication and the credit union's, there's been a lot of anxiety on my part never really knowing what's going on or where we even are. I have not brought up the fact that I want better communication and am not sure there'd be a point. Should I just start contacting the sellers agent? Should I try to get another realtor? I don't believe I have a contract with her as an agent. She is the broker for her real estate agency so between that and being 3 months into this process, is it even a good idea to switch? Who will pay her commission? I don't want to be on the hook for it. [link] [comments] |
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